Spring brings about more thanjust Spring showers and May flowers. Donâ€™t forget about those Spring weddings! With many of these weddingsfinancial discussions will arise that require deep thought and planning, wellbefore the wedding bells ring.
Marriage is not just â€œtying theknot,â€ so to speak. No, marriage by its legal nature includes tying togetherall of your financial resources and interests. Unfortunately, these daysmarriage also has a dark side too: divorce.
For those couples with importantfinancial resources and interests in the marital mix, they may elect to use aprenuptial agreement as sort of an â€œinsuranceâ€ policy in the event the marriagedoesnâ€™t work out as planned.
Prenuptial agreements arenowhere as exotic as they are portrayed in the popular imagination. They canbe, nevertheless, useful and important documents when produced through a spiritof full disclosure, careful deliberation, and independent legal representation.Otherwise, as pointed out in numerous articles these days, no prenuptialagreement is ironclad unless it is done correctly and, essentially, treatedlike the contractual understanding that it is.
Recently, Forbes provides some guidance to evaluate the effectiveness of yourprenuptial agreement in an article titled â€œFive Reasons Your Prenup Might Be Invalid.â€ In addition, The Wall Street Journal offers some specific guidance to get yourprenuptial agreement ship-shape in an article titled â€œShoring Up Your Prenup.â€
Used correctly, a prenuptialagreement, or even a post-nuptial agreement as the case may be, can help acouple frame their financial resources and interests in the context of theirlife together come what may.
That can provide great peace of mind, especially whenblending families and the children from those families.
For more information on Prenuptials and/or Blended Families,contact IdahoEstate Planning and schedule aconsultation. Remember,good planning is no accident.